Item 1.01 Entry into a Material Definitive Agreement.
Amendment and Restatement of Loan Agreement with
As previously disclosed, on
On
Pursuant to the Third Amended and Restated Agreement, the Lender agreed to make
loans to Borrower, at the Borrower's request from time to time, in the aggregate
amount of up to
Loans (both principal and interest) made by the Lender to the Borrower under the
Third Amended and Restated Agreement are scheduled to mature and become
immediately due and payable in full on
Loans under the Third Amended and Restated Agreement will bear interest at a per
annum rate equal to the Term SOFR Rate (as such term is defined in the Third
Amended and Restated Agreement) plus 6.0%, provided that in no event can the
interest rate be less than 7.0%. The Borrower is required to pay on a quarterly
basis an undrawn commitment fee at a per annum rate equal to 0.50% of the
undrawn portion of the Lender's
The Borrower may request a reduction in the Lender's
The obligations of the Borrower under the Third Amended and Restated Agreement
are guaranteed by the
Pursuant to the Third Amended and Restated Agreement, the Borrower and the Guarantors provide customary representations and warranties for a transaction of this type.
The Third Amended and Restated Agreement also includes customary covenants for a
transaction of this type, including covenants limiting the indebtedness that can
be incurred by the
Pursuant to the Third Amended and Restated Agreement, the Borrower may repay its
existing outstanding indebtedness provided, however, that if the anticipated
payment relates to the payment of any dividend by the Borrower, on the date such
payment is made, and immediately after making such payment, the loans
outstanding under the Third Amended and Restated Agreement may not exceed
The Third Amended and Restated Agreement contains customary events of default for a transaction of this type. If an event of default under the Third Amended and Restated Agreement occurs and is continuing, then the Lender may declare and cause all or any part of the loans thereunder and all other liabilities outstanding under the Third Amended and Restated Agreement to become immediately due and payable.
The foregoing description of the Third Amended and Restated Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Third Amended and Restated Agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an
Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 under the heading "Amendment to Loan
Agreement with
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits. Exhibit Number Description 10.1* Third Amended and Restated Loan Agreement, datedJune 9, 2023 , by and betweenJ.V.B. Financial Group, LLC andByline Bank . 104 Cover Page Interactive Data File (Embedded within the inline XBRL document.)
* Filed electronically herewith.
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